Michel Van de Wiele NV of Marke, Belgium, agreed to acquire the assets of the worldwide Cobble organization from Spencer Wright.
The merger of the textile equipment makers announced at the beginning of June 2013 will unite two of the most historic and famous names in textile manufacturing technology — Van de Wiele and Cobble.
Cobble, formerly owned by the Singer sewing machine company, was bought in 1976 by Spencer Wright who build the textile equipment company into a global maker of Colortec technology and Crabtree weaving machinery.
"The Wright family, shareholders, directors and officers of Spencer Wright Industries Inc. are delighted to honor the wishes of the late Spencer Wright in securing the best possible outcome for the Cobble Group companies and products, thus creating a bright future for its worldwide family of employees under the stewardship of its new owners," the company said in a statement released on May 28, 2013.
Source: WECBtv.com